INVESTORS
NEWS
Investment International, dated January 3, 2024, reports on the suspension of all redemption requests by policyholders of Custodian Life. This action follows the appointment of two joint provisional liquidators in November of the previous year, aimed solely at restructuring the Bermuda-regulated business. The Supreme Court of Bermuda issued an order, agreed upon by consent between the company and the Bermuda Monetary Authority, leading to the appointment of Edward Willmott and John Johnston from Deloitte Financial Advisory Ltd. as Joint Provisional Liquidators. This decision aims to safeguard stakeholders' interests, including policyholders, during the restructuring process.
The article includes details from a letter addressed to IFAs by Custodian Life's founder and general manager, Joakim Samuelsson, and mentions ongoing cooperation with the Bermuda Monetary Authority to ensure the best outcome for all stakeholders. For more details, you can read the full article here:
Provisional Liquidators for Custodian Life Suspend all Redemptions Amid Restructure
